STRIPPED BOND Definition

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STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.

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PERPETUITY, in finance, is an annuity payable forever.

TRUST ACCOUNT is a separate bank account, segregated from a brokers own funds, in which the broker is required by state law to deposit all monies collected for clients; in some states called an ESCROW ACCOUNT.

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